Kibbutz Glil Yam-based Schema is getting ready for a public issue on Wall Street. The company, a developer of asset and frequency management, network planning and data restructuring software for cellular networks, appointed Hanan Miron its CFO. Until last July Miron worked as CFO of BackWeb (Nasdaq:BWEB), which he also led to a public issue.
Yosi Ben-Dov, PhD., CEO of Schema, told TheMarker today that Miron's coming on board is a significant addition to the company, and a step up financially speaking. The company has not yet had a CFO. Ben-Dov believes Miron will help manage Schema's plans for international expansion.
Ben-Dov refused to talk about possible negotiations with underwriters regarding the U.S. issue, but said he expects the company to post a sales increase of more than 100% in 2002. Schema ended 2001 with sales exceeding $8 million, up from a mere $3 million in the year 2000.
Schema was one of the only Israeli startups last year to have enlarged its workforce in 2001, when it recruited 45 workers. The company now has 120 workers.
Founded in 1994 by Yuval Davidor PhD, develops and integrates telecom resource management systems. The Schema solution is designed to optimize cellular network capacity, provide enhanced flexibility in the use of their resources, and significantly improve the quality of the service to their end users.
In Schema of 2001 Schema completed a third $26 million private placement, according to post-money value of $86 million.